Tuesday, October 19

Fed’s Bostic says elevated inflation not affecting interest rates stance

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NEW YORK — US inflation is elevated but it is not at the point where it would affect the Federal Reserve’s stance on interest rates, Atlanta Fed Bank President Raphael Bostic said on Tuesday, adding he still expects it will be more than a year before the central bank raises rates from near zero levels.

“I’m not seeing signs that this elevated inflation is doing the kind of harm to the economy which would really call into question our policy stance in terms of interest rates,” Bostic said during a virtual event with the Peterson Institute of International Economics. (Reporting by Jonnelle Marte Editing by Chris Reese)


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